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McCain hits Obama on tax plan
published: Thursday | October 23, 2008

WASHINGTON (AP):

Republican John McCain pleaded with New Hampshire supporters on Wednesday to fuel a come-from-behind victory, delivering stinging criticism of the tax and spending plans of Barack Obama in a state that is leaning toward the Democrat.

McCain has seized upon Obama's plan as a socialist redistribution of wealth, a message he pushed in New Hampshire, which has no income tax and a traditional aversion to government spending.

The Illinois senator has proposed a reversal of President George W. Bush's tax cuts that mainly benefited high the wealthy. The additional revenue, Obama contends, would offset tax breaks he wants to give to the 95 per cent of Americans, who make less than $250,000 annually.

The state of the crumbling American economy, caught in a downward spiral not witnessed in generations, is gripping US voters with less than two weeks remaining until November 4 election day.

Strict limit

"Apparently, as my opponent sees it, there's a strict limit to your earnings as well, and it's for the politicians to decide. The proper amount of wealth is not what you can earn, but what government will let you keep," McCain said.

Obama brushed aside the claims, saying he just wanted to reverse the Bush cuts that McCain initially opposed.

"Was John McCain a socialist back in 2000 when he opposed President Bush's proposals," Obama asked at a news conference.

"It's not a very plausible argument," he said of the late-campaign allegations launched daily by McCain and running mate Sarah Palin.

Obama made his remarks at a news conference after a meeting with national security advisers focused on international affairs. The Illinois senator gained a huge boost on the foreign policy front over the weekend when longtime Republican Colin Powell, former secretary of state under Bush, endorsed him. Powell's backing helps Obama undercut McCain's perceived dominance on foreign policy issues.

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